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The following data include all the elements from Cambridge Company's income statement: Administrative Expense Cost of Goods Sold Gain on Sale of Securities Income Tax
The following data include all the elements from Cambridge Company's income statement: Administrative Expense Cost of Goods Sold Gain on Sale of Securities Income Tax Expense Loss on Discontinued Operations Loss on Disposal of Equipment Revenue Selling Expense $865 3,640 623 1,234 1,229 237 8,790 1,425 What is the amount of income from continuing operations for Cambridge Company? Which statement is true about the computation of net income and comprehensive income? O A. The two consecutive statements format provides a higher net income than the one statement format. OB. The one statement format provides a higher net income than the two consecutive statements format. O c. Net income always equals comprehensive income under the one statement format. OD. They are the same under either reporting alternative
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